Market Coverage Strategy Meaning & Definition
What is Market Coverage Strategy?
Market coverage strategy is an approach to capture a planned market share by following either of the following approaches:
• Concentrated Marketing Strategy
• Undifferentiated Marketing Strategy
• Differentiated Marketing Strategy
Concentrated Marketing Strategy is to focus on few segments of the market and achieve maximum penetration in them. Example is Niche marketing like Haier entry in US by introducing small refrigerators for hostel students in US
Undifferentiated Marketing Strategy is to focus on the entire market as a whole with single marketing mix. Example is Maggi Noodles, same product is marketed in entire India and targeting adults and kids alike.
Differentiated Marketing Strategy involves market segmentation and treating each segment differently according to the heterogeneity of market. Example: Differentiation based of geography, demography, price etc. Example is iPhone launched in cheaper version and premium version
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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